How wealthy are the Obamas?
WASHINGTON (CNN) — The White House released documents Wednesday that show President Barack Obama and the first family hold assets valued between nearly $1.9 million and nearly $6.9 million.
The disclosure forms, required by the Ethics in Government Act, reveal the president’s largest asset is U.S. debt in the form of Treasury notes and bills. In total, the president has between $1.1 million and $5.25 million invested in Treasury debt.
Obama reported a few other large assets, including a JPMorgan Chase checking account that holds between $250,000 and $500,000 and a set of 529 college savings plans.
The disclosure forms provide a range for the value of each asset, leading to the widely divergent estimates of wealth.
Obama made between $100,000 and $1 million from royalties on his 2004 book “Dreams From My Father” in 2012. He also profited between $50,000 and $100,000 on another book, “Audacity of Hope,” which came out in 2006.
His latest title, “Of Thee I Sing: A Letter to My Daughters,” a 2010 children’s book, brought in royalties last year between $100,000 and $1 million.
As for liabilities, the president has a mortgage ranging from $500,000 to $1 million for an Illinois residence.
Vice President Joe Biden, meanwhile, reported assets between $448,000 and $867,000 last year. A bulk of that comes from rental property in his home state of Delaware.
He earned between $17,600 and $58,000 in 2012, with between $15,000 and $50,000 of that money coming from the rental property.
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